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Showing posts from March, 2011

Educational Trip to BNM! =)

    Oh so yeah the trip to BNM was really awesome and eye-opening! Thanks to INTI Actuarial Society for organising it! There was a talk given by four actuaries who are working in the bank, and they started off by mentioning about roles of appointed actuary. Appointed actuary is the actuary who is working for his/her own company, and at the same time providing reliable information to the regulator which is the bank itself. Basically appointed actuary is the highest paid actuary in the whole actuarial team, but of course he/she would be the one having lots of work that worth the lucrative salary he/she gains.     It is also responsibility of an actuary to determine the size of actuarial reserve—money set out for long term claim life insurance, to sustain the guaranteed claim to the policyholders should any loss occur, by using suitable statistical methods and mortality table or life table as they call it. One of the roles of actuary working for the regulator—BNM is to ensure that actuar